Economy slows downtown development in Gulfport

A slow economy has slowed progress on a mixed-use development in downtown Gulfport.

Leaf River Group of Jackson announced a $50 million project in 2020 that would include luxury apartments, retail, restaurant space, along with parking.

It would be located at the corner of Highway 90 and Highway 49.

Leaf River Group President Stewart Speed says the ‘challenges of a macro-economy’ were making financing difficult.

Developers did, however, acquire another acre of property and now own the entire block south of Half Shell Oyster House other than the Gulf and Ship Island building.

They also have $10.5 million from the Gulf Coast Restoration Funds to use toward the project.